New to Real Estate · Mooresville, NC · Member since 2022 · 2 posts · 1 vote
Hello all,
I am new to the world of real estate investing. I am interested in getting started with a short-term rental in or around the Banner Elk, NC area. I am indifferent on condo vs single family home. Looking for any recommendations, contacts for current investors in the area, real estate agents with expertise in STRs, potential lenders etc. From my quick search it does not appear that there are any strict regulations for this general area. Primary goal is for cash-flow. Ideal budget would be 350k-ish. This would be financed. Looking forward to learning as much as I can from everyone here at BP. Thanks in advance.
Welcome Jamal. We have a place in Banner Elk (owed in <1 year). We love it up there but the market is pretty crazy. Maybe now, with rates rising, things MAY slow down. Getting a good contractor who will commit to you is really hard because there is so much construction going on up there. So suggest you find a place that will NOT require a lot of their time. Other than that, it is fun to get up there and explore until you find what you are looking for.
Realtor · Manhattan, KS · Member since 2016 · 170 posts · 89 votes
4y
Hey! Welcome to real estate investing!! Have you checked out BP's "Find An Agent" tab? They vet agents that work specifically with investors! You can find some in your area. Hope that helps your search! Good luck!
Investor · Nutley, NJ · Member since 2017 · 72 posts · 56 votes
4y
Welcome to the world of RE investing! My 2 cents (4 cents with inflation): learn your area like the back of your hand. Consistently go to RE meetup events. You'll meet up everyone you need to know at those events. If you're going to just stick to Banner Elk, make that your calling card. "I'm Mr. Banner Elk" so when RE people think of Banner Elk, they think of you.